
Peapack-Gladstone Bank Mortgage Rates
Effective 1.23.23
Fixed-Rate Mortgages1 | Conforming and High Balance Loan Amounts
Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
---|---|---|---|---|---|---|---|---|---|
30 Year Fixed-Conforming**** | 6.000% | 0 | 6.160% | 360 | 6.000% | $1,798.65 | $6.00 | $726,200 | 45 |
15 Year Fixed-Conforming | 5.150% | 0 | 5.375% | 180 | 5.125% | $2,391.96 | $7.97 | $726,200 | 45 |
Jumbo Loan Amounts1,2 | Minimum Loan Amount Starting at $822,376
Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
---|---|---|---|---|---|---|---|---|---|
30 Year Fixed | 6.875% | 0 | 6.989% | 360 | 6.875% | $4,270.04 | $6.57 | $1,500,000 | 45 |
Affordable Housing Loan Programs3
Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
---|---|---|---|---|---|---|---|---|---|
30 Year Fixed-Affordable Housing | 4.500% | 0 | 4.635% | 360 | 4.500% | $1,520.06 | $5.07 | N/A | 60 |
30 Year Fixed-Affordable Housing*** | 4.750% | 0 | 4.889% | 360 | 4.750% | $1,564.94 | $5.22 | N/A | 60 |
Adjustable-Rate Mortgages1,4
Program |
Rate |
Points |
Annual Percentage Rate |
# of Months |
Rate |
Amount |
Monthly Payment Per $1,000 |
Max. Loan2 |
Rate Lock Days |
---|---|---|---|---|---|---|---|---|---|
3/6 mo SOFR ARM****
CAPS: 2/2/6
|
5.750% | 0 | 6.838% |
36
323
1
|
5.750%
7.000%
7.000%
|
$1,750.72
$1,979.02
$1,975.40
|
$5.84
$6.60
$6.58
|
$1,250,000 | 60 |
5/6 mo SOFR ARM****
CAPS: 2/2/5
|
5.625% | 0 | 6.612% |
60
299
1
|
5.625%
7.000%
7.000%
|
$1,726.97
$1,963.70
$1,962.74
|
$5.76
$6.55
$6.54
|
$1,250,000 | 60 |
7/6 mo SOFR ARM****
CAPS: 5/2/5
|
5.625% | 0 | 6.450% |
84
275
1
|
5.625%
7.000%
7.000%
|
$1,726.97
$1,949.46
$1,947.12
|
$5.97
$6.50
$6.49
|
$1,250,000 | 60 |
Payments do not include amounts for taxes and insurance. Actual payment obligation will be greater.
30-Day Average SOFR | 4.31%
|
Margin | 2.75%
|
1Please call for rate quotes for loan amounts over the maximum loan amounts listed.
2Maximum LTV without mortgage insurance is 80% for loan amounts up to $1,500,000. Call for maximum loan amounts for LTV over 80%. Payment schedules are based on a loan amount of $650,000.
3Please call for rate quotes and maximum income limit per county.
***30 Year Fixed Rate -Affordable Housing product will be offered at 4.750% with a $2,500.00 closing cost credit.
***30 Year Fixed Rate -Affordable Housing product will be offered at 4.750% with a $2,500.00 closing cost credit.
****Loans held in Bank's portfolio: For Investment Properties, 1% origination fee is charged OR .375% added to interest rate.
4The APR for the Adjustable Rate Mortgages (ARMs) are based on a 30-year term with ARM caps: for the 3/6 mo ARM: 2% max 1st adjustment, 2% per subsequent adjustment & 6% lifetime; for the 5/6 mo ARM: 2% max 1st adjustment, 2% per subsequent adjustment & 5% lifetime; for the 7/6 mo ARM: 5% max 1st adjustment, 2% per subsequent adjustment & 5% lifetime. After the initial period, rates and payments are based on the current index plus a margin. APR may increase after closing.
BANK FEES
Application | $500.00 | Flood Certification and Life of Loan | $15.00 | Credit Report - Joint | $76.00 |
Appraisal | $525 to $800 | Attorney Review | $200.00 | Credit Report - Individual | $38.00 |
Tax Service | $110.00 |